Aviso Financial Inc. Invests $133,000 in Wix.com Ltd. $WIX

Aviso Financial Inc. acquired a new position in Wix.com Ltd. (NASDAQ:WIX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 840 shares of the information services provider’s stock, valued at approximately $133,000.

Several other large investors have also added to or reduced their stakes in the stock. Allianz Asset Management GmbH lifted its position in Wix.com by 23.0% during the first quarter. Allianz Asset Management GmbH now owns 18,174 shares of the information services provider’s stock valued at $2,969,000 after purchasing an additional 3,396 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Wix.com by 9.9% during the first quarter. Cetera Investment Advisers now owns 1,558 shares of the information services provider’s stock valued at $255,000 after purchasing an additional 140 shares during the period. Assetmark Inc. boosted its holdings in shares of Wix.com by 1,897.3% during the first quarter. Assetmark Inc. now owns 10,386 shares of the information services provider’s stock worth $1,697,000 after purchasing an additional 9,866 shares during the period. TD Asset Management Inc raised its holdings in shares of Wix.com by 11.3% during the first quarter. TD Asset Management Inc now owns 21,057 shares of the information services provider’s stock valued at $3,440,000 after acquiring an additional 2,135 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Wix.com by 4.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,949 shares of the information services provider’s stock worth $5,547,000 after buying an additional 1,437 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on WIX. Wells Fargo & Company cut their price objective on shares of Wix.com from $216.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, November 20th. UBS Group set a $170.00 price objective on Wix.com in a report on Monday. Citigroup decreased their target price on Wix.com from $197.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Oppenheimer dropped their price target on shares of Wix.com from $220.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Finally, Bank of America reduced their price target on shares of Wix.com from $210.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.81.

Wix.com Stock Performance

NASDAQ:WIX opened at $94.48 on Wednesday. The stock has a 50-day simple moving average of $141.75 and a two-hundred day simple moving average of $147.86. The firm has a market capitalization of $5.30 billion, a PE ratio of 40.38, a P/E/G ratio of 1.77 and a beta of 1.31. Wix.com Ltd. has a 52-week low of $92.23 and a 52-week high of $247.11.

Wix.com announced that its board has initiated a stock buyback program on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

About Wix.com

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.